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Restriction on issuing at discount shares or stock already authorized. 7. Provided, that any shares, the creation whereof has been authorized by a company, but which have not been issued before the passing of this Act, shall not be issued on any terms other than those whereon the same might have been issued if this Act had not been passed unless and until the issue thereof on terms other than as aforesaid is after the passing of this Act authorized by the company in manner provided by Part II of the Companies Clauses Act, 1863.
© 1869 Crown Copyright
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